Mohawk Industries (NYSE:MHK) Given New $155.00 Price Target at Loop Capital

Mohawk Industries (NYSE:MHK) had its target price cut by research analysts at Loop Capital from $180.00 to $155.00 in a report released on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Loop Capital’s target price indicates a potential upside of 29.90% from the company’s current price.

Other analysts have also recently issued reports about the company. Truist Financial decreased their target price on Mohawk Industries from $155.00 to $148.00 and set a “buy” rating for the company in a research report on Monday. The Goldman Sachs Group decreased their price objective on Mohawk Industries from $170.00 to $145.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Raymond James reaffirmed a “strong-buy” rating and issued a $165.00 target price (down from $185.00) on shares of Mohawk Industries in a report on Monday. JPMorgan Chase & Co. decreased their price target on shares of Mohawk Industries from $161.00 to $156.00 and set an “overweight” rating for the company in a research note on Monday. Finally, Wolfe Research upgraded shares of Mohawk Industries from a “peer perform” rating to an “outperform” rating and set a $150.00 price objective on the stock in a research note on Wednesday, January 8th. Six research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $147.29.

Mohawk Industries Stock Performance

Shares of Mohawk Industries stock opened at $119.32 on Monday. The company has a quick ratio of 1.09, a current ratio of 2.03 and a debt-to-equity ratio of 0.22. Mohawk Industries has a 52 week low of $104.88 and a 52 week high of $164.29. The firm’s 50 day moving average is $123.61 and its two-hundred day moving average is $140.24. The firm has a market capitalization of $7.53 billion, a P/E ratio of 14.68, a P/E/G ratio of 1.60 and a beta of 1.41.

Mohawk Industries (NYSE:MHK) last announced its quarterly earnings results on Thursday, February 6th. The company reported $1.95 EPS for the quarter, topping the consensus estimate of $1.85 by $0.10. Mohawk Industries had a net margin of 4.78% and a return on equity of 8.00%. Research analysts forecast that Mohawk Industries will post 10.71 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Suzanne L. Helen sold 4,000 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $126.11, for a total value of $504,440.00. Following the sale, the insider now directly owns 104,084 shares in the company, valued at $13,126,033.24. This represents a 3.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders sold 19,078 shares of company stock worth $2,474,347. Insiders own 17.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Mohawk Industries by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 6,229,786 shares of the company’s stock worth $742,154,000 after buying an additional 20,327 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Mohawk Industries by 2.5% during the third quarter. JPMorgan Chase & Co. now owns 3,024,539 shares of the company’s stock worth $485,983,000 after acquiring an additional 74,123 shares during the last quarter. FMR LLC grew its stake in Mohawk Industries by 52.3% in the 3rd quarter. FMR LLC now owns 2,179,510 shares of the company’s stock worth $350,204,000 after acquiring an additional 748,070 shares during the period. State Street Corp raised its holdings in Mohawk Industries by 1.3% in the 3rd quarter. State Street Corp now owns 1,846,446 shares of the company’s stock valued at $296,687,000 after acquiring an additional 23,016 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of Mohawk Industries by 33.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,011,861 shares of the company’s stock worth $162,586,000 after purchasing an additional 254,779 shares during the period. Institutional investors and hedge funds own 78.98% of the company’s stock.

Mohawk Industries Company Profile

Mohawk Industries, Inc designs, manufactures, sources, distributes, and markets flooring products for residential and commercial remodeling, and new construction channels in the United States, Europe, Latin America, and internationally. It operates through three segments: Global Ceramic, Flooring North America, and Flooring Rest of the World.